Oak Bay consented to the loan bylaw that authorizes the CRD to borrow $6.1 million to complete sections of the E&N Rail Trail by 2019. The estimated annual cost to taxpayers is $0.51 per $100,000 of assessed value.
The E&N Rail Trail is a regionally funded trail offering Greater Victoria residents and tourists an opportunity to enjoy commuting and recreational walking and cycling.
The CRD plans to borrow while seeking grant funding to allow timely completion of two segments of trail that link the West Shore to Victoria.